3,678 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,678 shares of the asset manager's stock, valued at approximately $3,481,000.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Norges Bank acquired a new stake in BlackRock in the fourth quarter valued at approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in BlackRock by 401.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after acquiring an additional 876,836 shares during the period. Proficio Capital Partners LLC increased its position in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after acquiring an additional 633,779 shares during the period. Envestnet Asset Management Inc. bought a new position in BlackRock during the fourth quarter worth $572,730,000. Finally, Amundi bought a new position in BlackRock during the fourth quarter worth $528,792,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BlackRock stock traded up $2.13 during trading on Tuesday, hitting $980.20. 142,861 shares of the stock were exchanged, compared to its average volume of 687,743. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The stock has a market capitalization of $151.86 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a fifty day moving average price of $922.52 and a 200-day moving average price of $974.09. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.81 EPS. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BLK shares. Wells Fargo & Company dropped their target price on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Bank of America lowered their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.